John has $55,000 net earnings from a sole proprietorship  

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Raj Maurya
(@rajmaurya)
Member Admin
Joined: 2 years ago
Posts: 8
11/02/2019 3:19 pm  

John has $55,000 net earnings from a sole proprietorship. John is also employed part-time by a major corporation and is paid $25,000. John's self-employment tax (rounded) for 2015 is?


Solution

Total Earnings= 55000+25000= 80000 is taxable

Based on the above tax will be computed


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